Stock Market backslides to the red territory
Colombo Bourse closed in the red zone on Wednesday after consecutive gains during the last three trading sessions as a selling spree emerged, First Capital Research said. Following the long…
Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid
(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…
Sri Lanka identifies 7 key items to import from India
Crisis-ridden Sri Lanka has identified seven classes of products, aside from petroleum, to be imported from India this year under credit facilities, according to Indian media reports. The product classes…
Hike taxes to address debt woes, IMF urges crisis-hit Sri Lanka
Sri Lanka must tighten monetary policy and raise taxes to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday, even as Lanka’s President Gotabaya Rajapaksa and the cabinet…
HCL Tech says business as usual, no hiring slowdown in Sri Lanka
Amid the ongoing economic crisis in Sri Lanka, HCL Technologies said that it has not seen any business impact on its deliverables, or any slowdown in hiring in the region,…
Sri Lanka settle payments for Russian coal cargoes
(Reuters)- Crisis-hit Sri Lanka has paid for two Russian cargoes to SUEK AG’s Singapore unit through a telegraphic transfer, two senior government officials told Reuters, in a move that is…
Cash-strapped Sri Lanka hit by record inflation
(AFP) – Crisis-hit Sri Lanka’s inflation hit a record high for the sixth consecutive month, official data showed on Friday as the government asked the IMF for an urgent bailout. The…
Sri Lankan Economic Crisis Inflicted by Self-Serving Elite
By Anis Chowdhury and Jomo Kwame Sundaram Sri Lanka has just defaulted on its foreign debt for the very first time. Attributing its current predicament to a Chinese ‘debt-trap’ is a new Cold War…
Colombo Stock Brokers Association defends the decision to temporarily close down the Colombo Stock Exchange
Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for 5 business…
Sri Lanka unilaterally suspends external debt payments, says needs money for essentials
(Reuters) – Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to…